{"id":10495,"date":"2024-04-08T10:05:47","date_gmt":"2024-04-08T10:05:47","guid":{"rendered":"https:\/\/topat10.com\/?p=10495"},"modified":"2024-04-08T10:05:47","modified_gmt":"2024-04-08T10:05:47","slug":"u-k-graduates-face-the-worst-market-in-years-as-job-vacancies-fall-by-30-2","status":"publish","type":"post","link":"https:\/\/topat10.com\/?p=10495","title":{"rendered":"U.K. graduates face the &#039;worst market in years&#039; as job vacancies fall by 30.2%"},"content":{"rendered":"\n<p>Jobs for Britain\u2019s university graduates are drying up at double the pace of the rest of the labor market, spurring concerns that businesses aren\u2019t investing enough in their future workforces.<\/p>\n<div>\n<p>The number of vacancies for graduates fell 30.2% from a year ago in February, according to data from the jobs search engine Adzuna provided to Bloomberg. That compares with a 15.1% drop across the whole economy.<\/p>\n<p>\u201cThose new entrants are fundamental to the success of the economy and to the future labor market,\u201d said Kate Shoesmith, deputy chief executive officer of the Recruitment &amp; Employment Confederation, an industry group. \u201cBusinesses need to be thinking about how, in this type of market, they are bringing new entrants in, and what their long-term workforce strategy is.\u201d<\/p>\n<p>The drop in opportunities for\u00a0<a href=\"https:\/\/www.bloomberg.com\/graphics\/2023-06-reed-jobs-report-graduates-face-worst-market-in-five-years\/\" target=\"_blank\" rel=\"noreferrer noopener\" class=\"sc-76811d68-0 jyYcOa\">graduates<\/a>\u00a0is a symptom of a loosening labor market, with employers curtailing hiring after the economy tipped into recession last year. It reflects efforts by the Bank of England to rein in inflationary forces with the highest interest rates in 16 years, which has helped cool upward pressure on prices coming from rapid wage growth.<\/p>\n<p>A separate survey by REC published Monday showed demand for staff fell for a fifth month to a level that was near a 37-month low. The industry group\u2019s measure of starting salary growth rose at its slowest pace in three years. It also showed more candidates looking for jobs.<\/p>\n<p>\u201cPersistent economic uncertainty has led to many business leaders delaying major investment decisions,\u201d said John Holt, a senior partner at KPMG, which contributed to the REC survey.<\/p>\n<p>For young people, the most alarming trend is a deterioration in the number of jobs for those just starting out in a career. Those departing university are facing a disproportionately tough market. The Adzuna data adds to figures from Reed Recruitment last year that showed graduates facing the\u00a0<a href=\"https:\/\/www.bloomberg.com\/graphics\/2023-06-reed-jobs-report-graduates-face-worst-market-in-five-years\/\" target=\"_blank\" rel=\"noreferrer noopener\" class=\"sc-76811d68-0 jyYcOa\">worst market in years<\/a>.<\/p>\n<p>The result is subsiding pay pressures, a trend embraced by the Bank of England and lamented by graduates. New postings across the job market reaped salaries 3% higher than a year before, according to Adzuna data. That\u2019s the lowest in three years.\u00a0<\/p>\n<p>Across graduate postings, wage growth was flat in 2024, with employers backing away from the steep raises they had to offer just after the pandemic to draw in the staff they needed.\u00a0<\/p>\n<p>The result is that fewer young people are working, reducing the pool of available labor. More than 500,000 people aged 16 to 24 years were economically inactive \u2014 not in education, employment, or training \u2014 between October and December 2023. While that\u2019s less than at the post-pandemic peak between July and September last year, the figure remains 7.5% higher than a year ago.\u00a0<\/p>\n<p>Employers\u2019 aversion to hiring entry-level candidates is driven by lower confidence in the outlook, according to a REC survey showing sentiment toward hiring and investment decisions at a 12-month low. Shoesmith said lower interest rates would help give companies \u201cwiggle room\u201d in their budgets to hire more.<\/p>\n<p>\u201cGiving an opportunity to a new starter can be deemed a risk,\u201d said Shoesmith, \u201cand many employers just don\u2019t have that economic support right now.\u201d\u00a0<\/p>\n<\/div>\n<div data-cy=\"subscriptionPlea\">Subscribe to the new Fortune CEO Weekly Europe newsletter to get corner office insights on the biggest business stories in Europe. <a href=\"https:\/\/fortune.com\/newsletters\/ceo-weekly-europe?&amp;itm_source=fortune&amp;itm_medium=article_tout&amp;itm_campaign=ceo_weekly_europe\" target=\"_self\" rel=\"noopener\" class=\"sc-76811d68-0 jyYcOa\">Sign up<\/a> for free.<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Jobs for Britain\u2019s university graduates are drying up at double the pace of the rest of the labor market, spurring concerns that businesses aren\u2019t investing enough in their future workforces. The number of vacancies for graduates fell 30.2% from a year ago in February, according to data from the jobs search engine Adzuna provided to [&hellip;]<\/p>\n","protected":false},"author":368,"featured_media":10496,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[123],"tags":[],"class_list":["post-10495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>U.K. graduates face the &#039;worst market in years&#039; as job vacancies fall by 30.2% | Unlock Informed Choices with Us<\/title>\n<meta name=\"description\" content=\"The result is that fewer young people are working, reducing the pool of available labor.\" \/>\n<meta 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Ward, Bloomberg","author_link":"https:\/\/topat10.com\/?author=368"},"uagb_comment_info":0,"uagb_excerpt":"Jobs for Britain\u2019s university graduates are drying up at double the pace of the rest of the labor market, spurring concerns that businesses aren\u2019t investing enough in their future workforces. The number of vacancies for graduates fell 30.2% from a year ago in February, according to data from the jobs search engine Adzuna provided to&hellip;","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/posts\/10495","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/users\/368"}],"replies":[{"embeddable":true,"href":"https:\/\/topat10.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10495"}],"version-history":[{"count":0,"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/posts\/10495\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/media\/10496"}],"wp:attachment":[{"href":"https:\/\/topat10.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/topat10.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/topat10.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}